At Phillips & Munro Real Estate, our goal is to ensure that buyers and sellers are aware of the new rules regarding tenant-occupied properties. The Provincial Government of British Columbia has announced some significant changes to the Residential Tenancy Act, effective on Thursday, July 18, 2024. These changes aim to prevent landlords from unfairly evicting tenants in bad faith. As … Read More
Navigating the New Changes in Capital Gains Tax and Flipping Homes in Canada
With recent changes to capital gains tax legislation, Canadian real estate investors, especially those who consider themselves “home flippers,” should stay informed about how these updates could impact their financial strategies. At Phillips and Munro Real Estate Team, we’re always committed to guiding our clients through the ever-evolving real estate landscape. We will explore the latest capital gains tax law … Read More
New Changes and Updates for BC to Better Navigate the Housing Market in 2024
As of April 1st, 2024 the British Columbia government has new rules and regulations regarding Property Transfer Tax to assist with the BC housing market. Each of these new regulations will have a great impact on both the Fraser Valley real estate and the BC real estate market. This is just a quick overview, however, if you have any additional … Read More
Investing in Real Estate: Pros and Cons of Different Residential Properties and Strategies Worth Considering
When it comes to investing in real estate, the landscape is as vast as it is varied. For more than two decades, the Kim Phillips Real Estate Team has been guiding buyers and sellers through the bustling markets of Langley, Cloverdale, and South Surrey. Local realtors, our team stands in the Top 1% of the Fraser Valley, which showcases our … Read More
To Build or Buy: The Big Real Estate Question in 2022
Are you ready to call a new place home? While this is an incredibly exciting and worthwhile venture, we know the “what ifs” of house hunting can tack on a lot of stress. One question many soon-to-be-homeowners wonder is if they should buy a house or build one. Since both options come with several factors to consider, it’s important to … Read More
Thinking of Buying an Investment Property? Here are 5 Things to Consider.
It’s no secret that buying an investment property can be a wise financial decision. When done right, you can expect a strong return across multiple revenue streams. From passive income to tax breaks and equity gains, property investment can lead to substantial financial gains. With that said, a return on investment is not guaranteed and like any financial endeavour, it … Read More